Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

In relation to the kinds of products that we are talking about, I noticed that the services and products that can be issued under a licensing exemption are the subject of limits in order to minimise the risk of losses to consumers. This includes a whole range of things, including that businesses relying on an exemption can only provide services to up to 100 retail clients and so on and so forth. The maximum credit contract can be $25,000. In terms of the financial advisers providing advice on these kinds of products, I've got to find 100 retail clients to test my new innovation in insurance in the sandbox. Can you give us some examples of the kinds of advisers that are currently working with companies in the sandbox, or is this a totally new paradigm?

Minister, these people aren't going to find clients on their own. They're creating products; they have actually got to find the 100 retail clients, for example, to test their products—the consumers of financial advice. How do the advisers get familiar with these products, and are there any working with companies in sandboxes at the moment?